Brokerages Set SOC Telemed, Inc. (NASDAQ:TLMD) Price Target at $7.25

Shares of SOC Telemed, Inc. (NASDAQ:TLMD) have been assigned a consensus rating of “Buy” from the seven analysts that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $7.25.

TLMD has been the topic of several research reports. Credit Suisse Group cut their price objective on shares of SOC Telemed from $11.00 to $8.50 and set an “outperform” rating on the stock in a research report on Friday, August 13th. Zacks Investment Research raised shares of SOC Telemed from a “sell” rating to a “hold” rating in a research report on Thursday, October 14th. Benchmark lowered their price target on shares of SOC Telemed from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Friday, August 13th. Finally, Royal Bank of Canada lowered their price target on shares of SOC Telemed from $10.00 to $6.00 and set an “outperform” rating on the stock in a research note on Friday, August 13th.

Several institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. increased its stake in shares of SOC Telemed by 45.9% during the 3rd quarter. Invesco Ltd. now owns 15,909 shares of the company’s stock worth $36,000 after purchasing an additional 5,004 shares during the last quarter. Royal Bank of Canada grew its stake in SOC Telemed by 1.6% in the 3rd quarter. Royal Bank of Canada now owns 347,864 shares of the company’s stock valued at $785,000 after buying an additional 5,567 shares during the last quarter. Legal & General Group Plc acquired a new position in SOC Telemed in the 2nd quarter valued at about $43,000. Goldman Sachs Group Inc. grew its stake in SOC Telemed by 24.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 40,105 shares of the company’s stock valued at $252,000 after buying an additional 7,778 shares during the last quarter. Finally, Voya Investment Management LLC grew its stake in SOC Telemed by 48.2% in the 3rd quarter. Voya Investment Management LLC now owns 24,133 shares of the company’s stock valued at $55,000 after buying an additional 7,852 shares during the last quarter.

Shares of NASDAQ TLMD traded up $0.04 during midday trading on Thursday, reaching $2.14. 246,932 shares of the stock were exchanged, compared to its average volume of 609,741. The business has a 50-day simple moving average of $2.25 and a two-hundred day simple moving average of $3.98. The company has a market capitalization of $215.80 million, a price-to-earnings ratio of -0.91 and a beta of 0.14. SOC Telemed has a 12 month low of $1.86 and a 12 month high of $9.48. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.48 and a quick ratio of 3.41.

SOC Telemed (NASDAQ:TLMD) last announced its quarterly earnings results on Friday, November 12th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.09. SOC Telemed had a negative net margin of 88.63% and a negative return on equity of 66.37%. During the same quarter in the previous year, the business earned ($0.14) EPS. Equities research analysts expect that SOC Telemed will post -0.73 earnings per share for the current fiscal year.

SOC Telemed Company Profile

SOC Telemed, Inc provides acute care telemedicine services and technology to hospitals, health systems, physician groups, and government organizations in the United States. The company's technology platform, Telemed IQ, provides telemedicine programs. Its telemedicine solutions include teleNeurology, telePulmonology, telePsychiatry, and teleICU.

See Also: What is meant by holder of record?

Analyst Recommendations for SOC Telemed (NASDAQ:TLMD)

Receive News & Ratings for SOC Telemed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SOC Telemed and related companies with MarketBeat.com's FREE daily email newsletter.